MATTHEWS, N.C.–Net income for Family Dollar reached $112.2 million in the second quarter, 33 percent ahead of last year’s second quarter. Gains in sales and gross margin, along with a reduction in expenses as a percentage of sales, helped bolster the retailer’s bottom line in the quarter. Net sales rose 4.9 percent to $2.1 billion, … More »
BENTONVILLE, Ark.–Well-known retail executive Allen Questrom will not seek reelection to Walmart’s board of directors, according to a report in Women’s Wear Daily. Questrom, who has done chief executive stints at J.C. Penney, Neiman Marcus and Barneys, joined Walmart’s board in 2007. Walmart’s board members must seek reelection annually.
NEW YORK–Three of Hearst Magazines’ key publications have new editors as the company announced several switches at the top of its editorial ranks. Stephen Drucker, who has been editor of House Beautiful and helped lead the magazine to a revival the past five years, is moving over to Town&Country as editor-in-chief. Succeeding him at House … More »
NEW YORK–After 20 years—and over 40 New York Tabletop Markets—Deborah Brown Elliott, Forty One Madison’s marketing and communications arm is retiring. “On behalf of the Rudin family and everyone at Forty One Madison, I would like to thank Debby for her dedication, professionalism and creativity over the years,” said Laurie Burns, senior vice president, director … More »
WASHINGTON–The National Retail Federation has unveiled its Mobile Retail Initiative, which will offer best practices and learning opportunities for retailers interested in m-commerce, as more consumers use their handheld devices from phone calls to Web surfing. Led by retailers, the initiative will bring together the collaborative strengths of three of its units—the IT standards division … More »
NEW YORK–Rick Darling, president of Li & Fung’s U.S. unit, LF USA, will appear on the keynote panel for the Licensing International Expo. Darling will take part in the session titled “The Future of Entertainment Licensing,” which is scheduled for Tuesday, June 8 from 9 to 10 a.m. at the Mandalay Bay Convention Center. Also … More »